Sun, 05 Feb 2023

Petrofrontier Announces the Issuance of Stock Options

05 Dec 2022, 22:56 GMT+10

CALGARY, AB / ACCESSWIRE / December 5, 2022 / PetroFrontier Corp. ('PetroFrontier' or the 'Company') (TSX-V:PFC) announces its intention to grant options ('Options') to key personnel under its option plan. The Corporation intends to grant Options to acquire 4,950,000 Common Shares. Each Option will entitle the holder to acquire a Common Share at a price of $0.08 per Common Share for a term of five (5) years. The Options will vest as to one third each on the date of grant and the first and second anniversaries of the grant.

About PetroFrontier

PetroFrontier is a junior energy company currently focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta.

PetroFrontier's head office is in Calgary, Alberta and its Common Shares are listed for trading on the Exchange under the symbol 'PFC'.

Forward-Looking Statements

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of PetroFrontier. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, PetroFrontier does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for release in the United States of America

For More Information Contact:

Kelly Kimbley, President & CEO
PetroFrontier Corp.
Suite 900, 903 - 8 Avenue S.W.
Calgary, Alberta, Canada T2P 0P7
Telephone: (403) 650-6355

SOURCE: PetroFrontier Corp.

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